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Search Results 0 to 10 of about 11 (some duplicates have been removed)
Jan 12, 2013 4:00am PST
cut has to be measured by the increase in the debt ceiling, but there is already some weakening republican ranks about whether they will go through. forcing a dae fault on the debt would be catastrophic to the country. it's very hard to hold that up as a hostage. >> we look at march 1st as a drop dead deadline. but you write that the government will be unable to pay its bills sometime between february 15th and march 1st. what does changing the timetable do to things? >> we don't know an exact date. that date from the bipartisan policy center, basically measuring the cash flow to the government. we're in an uncertain season, where we had the big fight over the fiscal cliff and tax revenue coming in, and there are tax refunds sent out, it creates a balance of how much money the treasury can keep going and the government coffers and not precisely clear when that will basically run out we hit the debt limit on december 31st and the treasury using special measures to get it through until march 1st. it could come a week or two before that. it won't be clear for a few more days or week
FOX News
Jan 12, 2013 1:00pm PST
or power. whether the debt ceiling, gun control, fiscal cliff, his first nominee for secretary of state susan rice, republicans are here to remind him that they are significant opposition, number one. number two, their own foreign policy, they are trying to figure out a way in the wake of bush 43 to identify a foreign policy muscular foreign policy that is different than the democrats. i think a lot of this is feeding the controversy. >> gregg: fair enough. you also debunk the argument that hagel is not qualified. in doing so in part you are siding with some derision. another pentagon chief who was well qualified, does judgment trump experience? >> it's a fascinating point. don rumsfeld is one of the most brilliant people that i've ever met. there is no question about it. if you look at the first george w. bush administration and you look at the policies on iraq, you had a group of people who were as well qualified, whose resumes if you stack them up were among the most remarkable in washington in the history of our foreign policy. and yet, you ended up with on a set of decisions, certa
Jan 11, 2013 7:00pm EST
ceiling. no spending. >> do whatever it takes. apparently the hurdle is some legality. not whether it's a good idea, not whether it calls into question the independence of the central bank, the independence of whether the treasury will now have the new power to print money whatever it has. as long as it's legal. let me tell you. of all these options, the magic coin option, the 14th amendment may be the worst option. it will be challenged in court. the court moves forward. you end up with two classes of u.s. debt, one which people have a lot of confidence in, then this different class of debt which was created under this who knows what new legal authority that they found. >> this is the point. let me go right. the i.o.u. this is interesting. edward klinebard, former chief of staff at the congressional joint committee on taxation is now teaching law at the university of southern california. now, he says that congress has constitutional authority to raise the debt and only the congress. but he has his own banana republic plan where he wants to issue these new i.o.u.s which will never con
FOX Business
Jan 11, 2013 8:00pm EST
to unilaterally raise the debt ceiling without approval of congress. and that is the scuttlebutt right now in washington, that the president is simply going to do it whether congress authorizes that extension or not. neil: you know, sabrina, it's odd that this is occurring the same week we saw the movie "lincoln" honored with 12 oscar nods. of course, a lot of people point to the fact that abraham lincoln, you know, habeas corpus went way after and way beyond what constitutional powers he was granted, and critics say this president is, essentially, doing the same. i always remind people with this flippant comment, i knew abraham lincoln. abraham lincoln was kind of an historical friend of mine. this guy's no abraham lincoln, nor are the circumstances the same. what do you say? >> you're exactly right. the difference is abraham lincoln had his priorities in order, and one of the real problems with president obama is his priorities seem to be a mess. instead of talking about spending control, we're talking about gun control. instead of talking about solid, long-term economic solutions to hel
Jan 11, 2013 11:00pm PST
it out at the o.k. corral fight over raising the debt ceiling in a few weeks. president obama has already said he will not negotiate on raising the debt ceiling. here's what he said. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. let me repeat. we can't not pay bills that we've already incurred. >> and here's the response he got the next day from republican senator pat toomey of pennsylvania. >> our opportunity here is on the debt ceiling. the president's made it very clear; he doesn't even want to have a discussion about it, because he knows this is where we have leverage. we republicans need to be willing to tolerate a temporary partial government shutdown, which is what that could mean, and insist that we get off the road to greece, because that's the road we're on right now. we only can solve this problem by getting spending under control and restructuring the entitlement programs. there is no tax solution to this. it's a spending solution. and if this president doesn'
Jan 12, 2013 10:00am PST
wisconsin a member of the senate budget committee. as i said the debt ceiling is not about future spending. it is for paying for bills that we already bought. whether or not you think we should spend less money in the united states, do you agree with my premise? >> no, i don't, ali. hello, by the way. what the debt creeling is all about is providing the president the authority to borrow more money, put that on the backs of our children and grandchildren. there's no doubt we are not going to default on our debt. what the debt ceiling allows -- what the debt ceiling allows congress to do is continue to deficit spend. if we would stop incurring deaf zits we wouldn't need to increase the debt ceiling. it's not about paying past bills. you get into the cash flow aspect of this thing. in order to increase the debt ceiling we are actually just basically giving the president the authority to put that debt burden on our children and grandchildren. it's not about spending at all. >> let me ask you a couple questions here. >> deficit spending. >> you said there's no doubt we are not going to default
Search Results 0 to 10 of about 11 (some duplicates have been removed)